Australia’s housing market continue the same trend following last week, with national home values falling -1.3%. The country’s five eastern capital cities and most major regional centers within a commutable distance to major cities recorded month-on-month decline, while Perth, Adelaide, and Darwin recorded positive growth.
In the meantime, A-grade properties for sale continue to report short in supply. More homes are being sold before auction as sellers rush to make a deal rather than risk not getting a sale as vendors are becoming less willing to test the marketplace under true auction conditions.
1242 properties were listed for auction, considerably less than last weekend’s 1543 and, not surprisingly, this was well below the 1,904 auctions held on the same weekend last year.
A national auction market clearance rate of 60.9% at the weekend which was lower than the 62.0% reported last weekend and still well below the 81.5% recorded over the same weekend the previous year.
461 properties were listed for sale in Sydney last week while 159 properties were sold, and 80 properties were withdrawn, reflecting challenges of the Sydney housing market.
According to Realestate.com.au reported 1198 private sales in New South Wales over last week – much the same as last week’s 1,118. But, of course, many off-market Sydney property sales would not have been reported.
The overall clearance rate of Sydney is 57%. The Northern Beaches recorded the top Sydney regional clearance rate on Saturday with 68.1% followed by the Upper North Shore 67.5% and the Lower North 63.2%.
The clearance rate for houses was 62.5% with units well below this weekend at just 46.8%.
Last Saturday Sydney Auction Top5 House
▼TOP 1. AUD$5,800,000
Address: 4 Beach St, Cronulla NSW 2230
Land Size: 949 sqm
House | 4 Bed | 3 Bath | 4 Parking
▼TOP 2. AUD$4,257,000
Address: 11 Harbour St, Cronulla NSW 2230
Land Size: 976 sqm
Internal Area: 122 sqm
House | 4 Bed | 2 Bath | 3 Parking
▼TOP 3. AUD$2,910,000
Address: 40 Pemberton St, Strathfield NSW 2135
Land Size: 683 sqm
Internal Area: 280 sqm
House | 4 Bed | 3 Bath | 2 Parking
▼TOP 4. AUD$2,900,000
Address: 10 Majors Bay Rd, Concord NSW 2137
Land Size: 562.8 sqm
House | 4 Bed | 2 Bath | 2 Parking
▼TOP 5. AUD$2,850,000
Address: 4 Parukala Pl, North Narrabeen NSW 2101
Land Size: 600 sqm
Internal Area: 191 sqm
House | 4 Bed | 2 Bath | 2 Parking
Last Saturday Sydney Auction Top5 Unit
▼TOP 1. AUD$2,775,000
Address: 1/39 Quinton Rd, Manly NSW 2095
Semi | 3 Bed | 2 Bath | 1 Parking
▼TOP 2. AUD$2,150,000
Address: 12/66 Osborne Rd, Manly NSW 2095
Unit | 2 Bed | 2 Bath | 1 Parking
▼TOP 3. AUD$1,765,000
Address: 6 Holborow St, Croydon NSW 2132
Semi | 3 Bed | 2 Bath | 2 Parking
▼TOP 4. AUD$1,688,000
Address: 7/50-54 Cambridge St, Epping NSW 2121
Townhouse | 5 Bed | 3 Bath | 2 Parking
▼TOP 5. AUD$1,650,000
Address: 1/73 Yarrara Rd, West Pymble NSW 2073
Townhouse | 3 Bed | 2 Bath | 2 Parking
